NMAI vs VXUS
Nuveen Multi-Asset Income Fund vs Vanguard Total International Stock ETF
Which is better, NMAI or VXUS?
Allocation/Balanced against Large Cap Blend.
VXUS has a lower expense ratio. NMAI led over 1Y and 3Y, VXUS over the full window. The two have moved almost in lockstep, correlation 0.90.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NMAI | VXUS |
|---|---|---|
| Expense Ratio | 1.87% | 0.05%Best |
| AUM | - | $158.1B |
| Dividend Yield | 9.58% | 2.59% |
| Holdings | 1,312 | 8,747 |
| YTD Return | +20.40%Best | +15.71% |
| 1Y Return | +26.83%Best | +25.07% |
| 3Y Return (annualized) | +21.14%Best | +20.30% |
| 5Y Return (annualized) | - | +9.21% |
| Volatility (annualized) | 18.7% | 15.1%Best |
| Max Drawdown | -35.6% | -28.4%Best |
| $10,000 over 4.8 years | $13,874 | $15,870Best |
| Fund Family | Nuveen | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Nov 22, 2021 | Jan 26, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.8 years row, are measured over the window both funds cover: Nov 22, 2021 to Sep 8, 2026 (4.8 years).
NMAI vs VXUS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.8 years both funds cover.
NMAI vs VXUS Performance
Nuveen Multi-Asset Income Fund (NMAI) is an ETF from Nuveen and Vanguard Total International Stock ETF (VXUS) is an ETF from Vanguard (US). Over the past year NMAI returned +26.83% while VXUS returned +25.07%. Year to date, NMAI is up 20.40% versus a gain of 15.71% for VXUS.
Over three years, NMAI compounded at +21.14% per year against +20.30% for VXUS.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 15.1% for VXUS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.6% for NMAI and -28.4% for VXUS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NMAI charges 1.87% per year while VXUS charges 0.05%. On a $10,000 position that is $187 vs $5 annually, a gap of $182 per year that compounds over a long holding period. On income, NMAI currently yields 9.58% against 2.59% for VXUS.
Holdings Overlap
We hold position weights for 663 holdings in NMAI and 8,092 in VXUS, totalling 66.5% and 87.5% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 116 positions appear in both.
The two holdings books were reported 151 days apart, NMAI as of Jan 30, 2026 and VXUS as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
116 positions in common, counted across the 663 positions we hold weights for in NMAI and 8,092 in VXUS, against full books of 1,312 and 8,747.
Top Shared Holdings
| Stock | Weight in NMAI | Weight in VXUS | Difference |
|---|---|---|---|
| ASML:ASAsml Holding Nv Unsponsored Adr Ordinary Shares | 0.30% | 1.70% | 1.40% |
| 6857:JPAdvantest Corp | 0.75% | 0.33% | 0.42% |
| AZN:LNAstrazeneca Plc | 0.46% | 0.62% | 0.16% |
| SHELShell plc | 0.55% | 0.48% | 0.07% |
| SIE:SGSiemens Ag | 0.48% | 0.52% | 0.04% |
| RHMG:SGRheinmetall Ag | 0.73% | 0.12% | 0.61% |
| 6758:JPSony Group Corp. | 0.49% | 0.26% | 0.23% |
| ROG:SMRoche Holding Ag | 0.10% | 0.64% | 0.54% |
| IBDRYIberdrola Sa | 0.34% | 0.37% | 0.03% |
| 6503:JPMitsubishi Electric Corp. Com Stk | 0.54% | 0.16% | 0.38% |
You are not choosing between two funds in isolation.
Whichever of NMAI and VXUS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NMAI or VXUS?
NMAI has an expense ratio of 1.87% while VXUS charges 0.05%. VXUS is the cheaper option, by $182 a year on a $10,000 investment.
Which performed better, NMAI or VXUS?
Over the past year NMAI returned +26.83% vs +25.07% for VXUS, so NMAI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NMAI or VXUS?
NMAI has been the more volatile fund at 18.7% annualized versus 15.1% for VXUS. Worst drawdown: NMAI -35.6% vs VXUS -28.4%.
Should I hold both NMAI and VXUS?
NMAI and VXUS have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, NMAI or VXUS?
NMAI yields 9.58% while VXUS yields 2.59%, so NMAI currently pays the higher dividend yield.
Is VXUS better than NMAI?
VXUS has a lower expense ratio. NMAI led over 1Y and 3Y, VXUS over the full window. The two have moved almost in lockstep, correlation 0.90. Which one suits a particular account depends on what it is for. This is information, not a recommendation.